Magical Wedding

No, not that "magical wedding"!

Today FCX announced they were buying PD for about a 30% premium (Freeport makes $26 billion copper play with Phelps Dodge deal). Sadly, I did not own PD (had them about a year ago and did nicely). It does raise an interesting question for MFI investors. If you own PD as an MFI stock, should you take the shares of FCX or cash in all your chips? I guess my tendancy would be to hold the FCX in order to minimize taxes. FCX should stll be a MFI stock after all is said and done.

My MFI portfolio (not aided by M&A) was up slightly today. I did (just for kicks) look at my IRR thus far and then what it qould be with mt side car picks tossed in. It was surprising. My IRR right now is a respectable 14%... but with the side car investments included, it spikes to 22%! Wow.

I do not count the side car investments as I do not intend to hold them for a year. They have been opportunistic purchases of MFI stocks in my IRA. I have picked well, with 2 stocks (in a short time frame) NSS & PLAY being bought and ASEI went up about 20% in a week. Right now I have EZEN, TRLG, ASPV & CLE in the side car.